Real Estate Exposure to Seismic and Subsurface Risks

Purpose: This study conducts a systematic literature review on the intersection of real estate exposure and geotechnical hazards, focusing specifically on seismic and subsurface risks. The objective is to synthesize key thematic trends, methodologies, and governance frameworks that informrisk-informed planning in seismically vulnerable urban areas. Design/methodology/approach: A Boolean search query was implemented on Lens.org, identifying 55 peer-reviewed articles published between January 2020 and May 2025. Inclusion criteria required explicit focus on property exposure to seismic or ground instability risks. Thematic analysis was conducted based on title and abstract data, supported by a Python-generated word cloud to inductively identify five core clusters: (1) seismic assessment and earthquake risk, (2) building vulnerability and structural performance, (3) subsurface hazards and ground instability, (4) urban areas, heritage, and social vulnerability, and (5) risk mitigation, planning, and resilience frameworks. Findings: The review reveals a shift from hazard-centric, engineering-based models toward integrated, multi-scalar frameworks that embed risk within socio-economic, spatial, and institutional contexts. While consensus exists on the importance of probabilistic modeling, retrofitting, and GIS-based tools, divergences persist around behavioral valuation, policy uptake, and equity in implementation. Heritage cities and informal settlements emerge as under-addressed but critically vulnerable domains. Originality/value: This study systematically maps interdisciplinary research on real estate exposure to seismic and subsurface risks post-2020. By bridging engineering, planning, behavioral economics, and disaster governance, the review provides a unique synthesis relevant for academics, urban planners, and policymakers seeking to design equitable and resilient urban futures.